For a combined purchase price of $185.5 million, Pebblebrook Hotel Trust has acquired both the LaPlaya Beach Resort and the members-only LaPlaya Beach Club located in Naples, Florida on Vanderbilt Bay and the Gulf Coast. Under a new operating agreement, the resort will continue to be managed by Noble House Hotels & Resorts.
The acquisition additionally includes a leasehold interest in a 23-slip marina on the property’s Vanderbilt Bay side.
“We’re thrilled with the opportunity to expand our portfolio into the thriving market of Naples, Florida with the acquisition of LaPlaya,” says Jon Bortz, chairman and CEO of Pebblebrook Hotel Trust. “The resort is located on the beach within one of the most affluent coastal resort communities in the country, offering a full array of best-in-class amenities, dining and shopping venues, and dozens of golf courses.”
The company’s portfolio now contains 36 properties with LaPlaya being its first investment in Naples. Costs related to the hotel’s acquisition are anticipated at approximately $1.3 million.
The 189-room LaPlaya Beach Resort sits on six acres of beachfront property. Originally built in 1968, the hotel underwent a comprehensive $54 million renovation and redesign in 2002, including the addition of a tower, private beach club, and parking garage.
The 800-member LaPlaya Beach Club features a private dining room, private pool cabanas, and access to the LaPlaya Golf Course.
“We are excited to be partnering with Pebblebrook Hotel Trust,” says Patrick Colee, founder and chairman of Noble House Hotels & Resorts. “We believe that LaPlaya offers tremendous growth potential, and we are eager to create additional value at this exceptional property.”
Amenities include 11,620 square feet of indoor and outdoor event space; several F&B options including Baleen; the Tiki Bar; the 4,500-square-foot SpaTerre; three outdoor swimming pools; a 2,200-square-foot fitness center; a children’s aquatic and beach camp; watersport rentals; and in-room dining.
